Does anyone have a good source of reference on this form. It seems very confusing to me as to what the "deferral period of the base year" is.
Thank you
Thank you
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Is this the corporations first year of filing? If so, things look pretty easy.
If not, then the instructions say:
"Line 1. Net income for base year. The term “base
year” means the tax year preceding the applicable
election year..."
I read that to mean the period from Jan 1 - day before the newly elected fiscal year begins.
Form and form instructions:
Comment